Sunday, 3 January 2010

Britain is no country for children who need to be children

'They may be steering the country to a record deficit of at least £178 billion, but ministers believe they can educate the next generation about how to avoid the pitfalls of debt'.

Schools are to be required to teach children how to spend with restraint, borrow within sensible limits and save prudently.

The lessons are being ordered by Ed Balls, the 'Schools Secretary',

" It’s really important that we teach our children about money matters like pensions, responsible saving and effective money management.”

Balls said lessons in “economic wellbeing and financial capability” would be part of personal, social, health and economic education, compulsory for all pupils from September 2011.

“We need to make sure all young people have the information they need to prepare them for the complexities of today’s modern world so they can give security to their families and prepare for the future,” he added.

Under the plans, children aged 5 to 7 could be taught to identify different notes and coins and the basics of saving, for example by putting change in a piggy bank. Between 7 and 11 they could learn about bank accounts and budgeting.

Those aged 11-14 could move on to credit cards, mortgages and loans, with tips on how to pick the deals that suit them best without being fooled by advertising. Older children could receive classes in how to budget effectively and avoid dangerous levels of debt.

Oh dear, is Britain is no longer a country where children can be children and not have a care in the world.